Key Insights from the Periodic Labour Force Survey (PLFS) Report
The unemployment rate decreased to 3.1% in 2022-23 from 4.1% in 2021-22.
Rural unemployment fell to 2.4% while urban unemployment reduced to 5.4% in 2022-23.
Rural women experienced a lower unemployment rate (1.8%) compared to rural men (2.7%). In urban areas, however, females faced higher unemployment (7.5%) than males (4.7%).
The unemployment rate, calculated based on the “usual status” for persons aged 15 years and above, has seen a decline for five consecutive years since the survey’s initiation in 2017.
The labour force participation rate (LFPR) showed growth, reaching 57.9% in 2022-23 from 55.2% in the previous year.
Rural LFPR saw a notable rise to 60.8%, while urban LFPR improved to 50.4%.
However, the percentage of people in regular wage employment reduced to 20.9% in 2022-23 from 21.5% in 2021-22.
Conversely, individuals engaged in self-employment, such as unpaid household tasks or small businesses, increased to 57.3% in the recent period from 55.8% the year before.
Despite the drop in unemployment, the quality of jobs is in question, with self-employment rising and wage employment still below pre-pandemic levels.
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